Galaxy Digital CEO: Spot Bitcoin ETF to be Approved in January

Joshua Ramos
Could Bitcoin Hit $500K in 5 Years? Mike Novogratz Thinks So
Source: Markets Insider

Speaking to CNBC, Galaxy Digital CEO Michael Novogratz said that a spot Bitcoin ETF will be approved in January. Specifically, Novogratz stated his belief that the US Securities and Exchange Commission (SEC) will issue an approval before the January 10th deadline.

The SEC is currently reviewing more than a dozen applications from issuers seeking to bring the very first Spot Bitcoin ETF to the United States. Subsequently, the digital asset market is carefully awaiting such a decision. If approved, the investment product could have a massive impact on the market.

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Galaxy Digital’s CEO Expects Bitcoin ETF Approval Before January 10th

Throughout 2023, ETFs have become an immensely popular idea in the world of crypto. Indeed, a host of potential issuers have filed applications with the SEC to bring the investment product to market. Specifically, to pioneer the very first Spot Bitcoin ETF in the United States.

With 2024 fast approaching, speculation around a decision has only increased. Subsequently, Galaxy Digital CEO Mike Novogratz has said that he expects a spot Bitcoin ETF to be approved in January. Moreover, he stated his belief in an approval decision being made before January 10th.

Speaking to CNBC, Galaxy Digital CEO Mike Novogratz says he expects a Spot Bitcoin ETF to be approved before January 10th

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Speaking on the dovish perspective of the Federal Reserve among impending interest rate cuts, Novogratz said, “I think crypto likes it.” Thereafter, he added, “We’re going to get this ETF before January 10th.” Subsequently, the day was described by Novogratz as a “drop-dead date” for a decision by SEC Chair Gary Gensler.

Bloomberg’s James Seyffart has long stated January 5th to the 10th as the most likely window for a decision. Moreover, he noted that any approval will likely take place between the 8th and the 10th of that month. It seems to align with Novogratz’s optimistic perspective on potential approval.